As part of our commitment to transparency, Entrust has released two important reports this week: "The Value for Money Report 2022-2023" and "The LCF Economic, Community and Environmental Impact Model (ECEIM)Report 2022-23."
Drawing from the data provided to Entrust by Environmental Bodies (EBs), these reports offer a clear, detailed, and thoughtful review of the LCF's spending; highlighting the real benefits the fund delivers to local economies, communities, and the environment.
Together, they serve as a baseline model for evaluation and reflection, enabling stakeholders, including policymakers, EBs, and the broader community, to better understand the LCF's effectiveness in meeting its goals and affirming the fund's commitment to transparency and accountability.
The Value for Money (VfM) Report 2022-2023
The VfM report, published annually, is a public version of a document presented by Entrust to HMRC. It evaluates the allocation and usage of LCF funds during the 2022/2023 period.
- Total expenditure on projects in 2022/2023 was £35.3 million, an increase of £2.7 million from the previous year.
- £30.2 million went towards 884 Object D projects (public parks or amenities). The most popular amenities were Community Halls/Centres (29.2%), Sporting Facilities (28.2%), and Public Playgrounds (11.8%).
- Another £4 million went towards 79 Object DA projects (conservation projects) in 2022/2023. The majority of these were Woodland projects, but Lakes and Ponds, and Wetland projects were also notable.
- A total of 1,011 projects were completed, marking a 3% increase from 2021/2022.
- LCF funding accounted for 46% of total funding for projects completed in 2022/2023.
The LCF Economic, Community and Environmental Impact Report 2022-2023
This inaugural report provides a broader and more holistic insight into the impact of the fund. From our analysis, we have attempted to quantify not only the economic benefits but also the qualitative aspects, encompassing community development, environmental conservation, and overall societal betterment.
By incorporating a wide range of datasets across a three-year period, the report aims to showcase the profound influence of the fund through various social, environmental, and economic indicators. The insights gained provide a standard for shaping future funding priorities for EBs, ensuring that the LCF continues to adapt, innovate, and make the best use of available resources.
- The LCF continues to deliver significant economic benefits, more than doubling the value of funding per £1 invested.
- The scheme has a notable impact in the area of employment, especially in regions with higher unemployment rates.
- The Fund is reaching some of the most deprived communities, despite the barriers often associated with access to funding in these areas.
- The LCF also aids in generating funding from other sources, adding significant value to the LCF funding.